The Central Bank of Ireland has warned of major job losses across the economy in the event of a no-deal Brexit. Short term prospects of a loss of 34,000 jobs in the Irish economy within the year are pretty stark. Following up with the analysis of 110,000 jobs over the next ten years as a result of a disorderly exit by the UK from the EU. Economists at the Irish Central Bank are pulling no punches.
The bank’s Quarterly Bulletin said: "A disorderly Brexit would present enormous challenges for the Irish economy, especially in the near term, and would result in a loss of output and employment compared to a scenario where the UK remained in the EU."
It also warns that a disorderly Brexit would dramatically reduce economic growth and make consumers and businesses spend less.
There could be disruption at ports and airports, while Irish exports would be hit by a weak UK economy and a potentially large fall in the value of sterling.